Following are selected transactions of Mogg Company. Record the effects of each using the financial statement effects template.

1. Shareholders contribute $ 10,000 cash to the business in exchange for common stock.

2. Employees earn$ 500 in wages that have not been paid at period-end.

3. Inventory of $ 3,000 is purchased on credit.

4. The inventory purchased in transaction 3 is sold for $ 4,500 on credit.

5. The company collected the \(\$ 4,500\) owed to it per transaction 4.

6. Equipment is purchased for $ 5,000 cash.

7. Depreciation of $ 1,000 is recorded on the equipment from transaction 6.

8. The Supplies account had a $ 3,800 balance at the beginning of this period; a physical count at period-end shows that $ 800 of supplies are still available. No supplies were purchased during this period.

9. The company paid $ 12,000 cash toward the principal on a note payable; also, $ 500 cash is paid to cover this note's interest expense for the period.

10. The company received $ 8,000 cash in advance for services to be delivered next period.